A standard homeowner’s insurance policy generally protects against:
• Fire and lightning • Theft and vandalism • Smoke damage • Falling objects, like tree branches • Damage from the weight of ice, snow, or sleet
• Vehicles (and even aircraft) — not the vehicle itself, which is the object of auto insurance, but damage from vehicles — e.g., in the event a car runs into your home. • Riots or civil commotions • Vehicles (and even aircraft) — not the vehicle itself, which is the object of auto insurance, but damage from vehicles — e.g., in the event a car runs into your home. • Explosions Windstorm Insurance: Coverage is needed in many parts of Texas
• Damage from hail and windstorms
Flood Insurance
• Damage from flooding storms
Homeowner’s insurance policies also generally include coverage for liability, personal belongings, other structures on your property like carports and fences, and additional living expenses if your home becomes temporarily unlivable. There are advantages of paying homeowner’s insurance up front at closing, rather than escrowing the cost within your monthly mortgage. Paying your homeowner’s insurance premium all at once and before closing allows you to exclude that premium from your closing costs, which generally include lender and other fees 79
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